EXHIBIT 12 STATEMENT SETTING FORTH DETAIL FOR COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Millions of dollars) Year Ended December 31 ------------------------------------------------ 2000 1999 1998 1997 1996 ------ ------ ------ ------ ------ Income (loss) from continuing operations before income taxes... A $ 693 $ (104) $ 89 $ 456 $ 196 Fixed charges: Interest expense, gross...................................... 627 717 385 103 81 Portion of rentals representative of interest................ 46 53 35 19 22 ------ ------ ------ ------ ------ Total fixed charges before capitalized interest........... B 673 770 420 122 103 Capitalized interest......................................... -- -- -- 5 33 ------ ------ ------ ------ ------ Total fixed charges including capitalized interest........ C 673 770 420 127 136 ------ ------ ------ ------ ------ Earnings (A+B)................................................. D 1,366 $ 666 $ 509 $ 578 $ 299 Ratio of earnings to fixed charges (D/C)....................... 2.0 0.9 1.2 4.6 2.2 ====== ====== ====== ====== ====== Exhibit 12